Real Estate Daily Report

Hidden costs of buying a home are leaving people thousands of pounds out of pocket

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Hidden costs of buying a home are leaving people thousands of pounds out of pocket - here's how you can avoid them

HOMEOWNERS are being stung by hidden property costs that often leave them thousands of pounds out of pocket.

Quite often these costs are associated with issues that could have been checked in advance, such as faulty boilers or electrics. Of those buyers hit by unexpected costs, 44% said they had to pay more than £500, 30% more than £1,000 – while 15% of home movers were stung by more than £1,500. With a budget of £320,000 to purchase their home, the couple encountered some hidden costs after an electrical survey flagged that the property needed to be completely rewired.

 

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No mention of the hidden costs when buying leasehold properties .

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